Mine. Paringa's President and Chief Executive Officer, Mr. Xxxxx Xxx, said:"I am very excited that Paringa has executed its cornerstone coal sales agreement with LG&E and KU. The contract is the culmination of over a year of due diligence, negotiations, documentation and approvals on both sides. We are very proud to be contracting with LG&E and KU and we will look forward to contracting additional coal sales as we move towards production." Paringa Resources Limited ("Paringa" or "Company") (ASX: PNL; OTCQX: PNGZF) is pleased to advise that it has executed its "cornerstone" coal sales agreement with Louisville Gas and Electric Company and Kentucky Utilities Company ("LG&E and KU") for future coal sales from the proposed Buck Creek No.1 Mine, totaling US$220 million of contracted sales. Based on feedback from Paringa's potential "tier-1" customers within the Ohio River Market, the Buck Creek No.1 Mine's Coal Handling and Preparation Plant was redesigned as part of the Pre-Feasibility Study ("PFS") released to the ASX in March 2015, to produce both a fully- washed and a blended product. It is estimated that 30% of total sales from the Buck Creek No.1 Mine will be a fully washed 11,800 btu/lb product and 70% of total sales will be a 11,200 btu/lb product. Paringa is expected to begin production at the Buck Creek No.1 Mine in 2018, reaching full production of 3.8mtpa by approximately 2020. Under the coal sales agreement, Paringa is contracted to deliver a total of 4.75 million tons over a 5-year period of its 11,200 btu/lb product, with 750,000 tons to be delivered in 2018 and 1,000,000 tons to be delivered in each year from 2019 to 2022. The Buck Creek No.1 Mine's direct barge access to the Green and Ohio River systems provides a significant transportation advantage. The LG&E and KU coal sales agreement calls for fixed sales prices based on a Free-on-Board ("F.O.B.") Buck Creek No.1 Green River Barge Price", which is equivalent to a price for selling coal at the end of the Buck Creek No.1 Mine's conveyor belt at the Green River barge load-out facility. The contracted fixed coal sales prices for Paringa's 11,200 btu/lb coal spec begins at US$44.50 per ton in 2018, escalating to US$48.20 per ton in 2022. By adjusting for heating content, the equivalent 11,800 btu/lb coal price implied under this coal sales agreement is US$46.88 for 2018, increasing to US$50.78 by 2022. Provided below is a comparison of the five year (2018 to 2022) weighted average 11,200 btu/lb LG&E a...
Mine. Mine during the relevant Operating Year. Additional Deliveries = Quantity [in tonnes] of Coal delivered by the Seller in the relevant Year in excess of 90% of the ACQ. Multiplier shall be 0.10 for Additional Deliveries between 90%-95% of ACQ, 0.20 for Additional Deliveries between 95%-100% of ACQ and 0.40 for more than 100% of ACQ. Provided that the Performance Incentive will be effective only in the event when the cost plus price is equal to or less than Notified price of same grade of coal.
Mine. 6.10 If any Mine is permanently closed at the end of its production life, such Mine shall be deleted from the listing of Individual Productive Capacities and the Board shall by unanimous vote determine an appropriate adjustment to the Aggregate Productive Capacity of the Producer owning such Mine.
Mine. A munition designed to be placed under, on or near the ground or other surface area and to be exploded by the presence, proximity or contact of a person or vehicle. The following types of mines are known to have been used by troops on the Falkland Islands: 5 Convention on Cluster Munitions. Article 2, sub-section 3. Some mines have proven impossible to detect electronically and the Contractor shall ensure he understands the extent of the problem of detecting the landmines.
Mine. (c) As used in this Section and this Agreement, the following capitalized terms shall have the meaning given to them in this subsection:
Mine. (d) Independent Contractor has carefully inspected and examined and is familiar with the Nowrytown No.1 Mine, all areas surrounding the Nowrytown No.1 Mine, and the OWEC Property.
Mine. Notwithstanding the foregoing, however, Independent Contractor shall not, except with the prior written consent of OWEC, mine any Coal within sixty (60) feet of the outside boundaries of the Nowrytown No.1 Mine or within two hundred (200) feet of any mine workings in or adjacent to the Nowrytown No. 1 Mine, and Independent Contractor shall not cut any boundary corner on the Nowrytown No.1 Mine except with the prior written consent of OWEC. In the event such consent is given by OWEC, Independent Contractor shall use such precautions as are necessary to preserve and monument the location of such boundary corner as OWEC may require.
Mine. Independent Contractor agrees that it shall treat all maps, plans, data, reports, drilling logs, core samples, leases and other information relating to OWEC and its business, the OWEC Property, the Coal or the Nowrytown No.1 Mine (the "Information") as confidential, and it shall not divulge, transmit or otherwise disclose any of the Information to any person, firm, corporation or other entity unless at the time of disclosure to Independent Contractor, the information was public knowledge or becomes public knowledge through no act of Independent Contractor. Upon the termination or expiration of this Agreement for any cause whatsoever, Independent Contractor shall promptly deliver to OWEC all of the Information given to Independent Contractor.
Mine. Notwithstanding any provision of subsection (f) above, the term Retained Liabilities shall not include any (i) Liabilities arising after the Closing Date out of the Permitted Encumbrances (as defined herein), or (ii) Liabilities of Buyer to the applicable lessee pursuant to the terms of the Leases.
Mine. Mill Maintenance Services The Company will notify the Union in writing of its representatives on the committee. The appropriate departments of government shall be advised of the creation of this committee and shall be advised of the names of the members of the committee. The Company will recognize a negotiating com- mittee of not more than eight (8) employees of the Company designated by the Union in writing, provided however not more than five (5) members of thecommittee shall attend any negotiating meet- ing. There shall be two (2) representatives from each of the following four (4) Departments:
